Dec. 2, 2017: Philippines: Anglo Holdings gets nod to buy more stake in Atlas Mining in $73m deal
Anglo Philippine Holdings Corp has gained approval from the Securities and Exchange Commission for its acquisition of additional shares in Atlas Consolidated Mining and Development Corp worth $73.6 million (P3.7 billion). The Alfredo Ramos-led holding firm disclosed it is buying over 845 million shares representing 23.74 per cent stake in Atlas Mining priced at P4.3 per share. This will increase Anglo Holdings’ stake in the mining firm from 8.27 per cent to 32.01 per cent. Anglo Holdings noted it has in fact paid 25 per cent of the total subscription price in cash.
Read more at: https://www.dealstreetasia.com/stories/philippines-anglo-holdings-gets-nod-buy-stake-atlas-mining-73m-deal-87589/